As a result of the war against Russia, the budget deficit in Ukraine has risen to USD 5 billion a month, or about EUR 4.7 billion. To be able to bear that burden, financial help from abroad is needed. Ukrainian President Volodymyr Zelensky said this in his daily video message on Thursday evening.
Zelensky thanked the United States and the European Union for supporting Ukraine. The US is providing additional military aid and the US Senate on Thursday approved a $40 billion aid package. The EU already pledged 9 billion euros to Ukraine on Wednesday.
Zelensky emphasized that the foreign money should not be seen as a gift, but as a “contribution to one’s own security”. “Because defending Ukraine also means defending one’s own against new wars and crises that Russia may provoke.”
EU looks at whether oligarchs’ money can be used for reconstruction
Since the start of the war, the US and Europe have seized some $30 billion in Russian assets. In addition to bank accounts, this also concerns yachts, real estate and art. The European Commission is investigating whether the frozen assets of Russian oligarchs can be used for the reconstruction of Ukraine.
Commission President Ursula von der Leyen told the German channel on Thursday evening ZDF that she believes “Russia should make its contribution” and that lawyers are therefore looking at the possibilities of using those resources for Ukraine.
The committee chair also wants reconstruction aid to be linked to the reforms necessary for Ukraine’s eventual accession to the European Union. “We must co-finance the reconstruction of Ukraine,” said von der Leyen. “It makes sense to tackle reforms at the same time, for example against corruption or to build the rule of law.”